Dateline Resources Secures AU$35 Million Through Placement; Shares Fall 4%

MT Newswires Live

Jan 23

Dateline Resources (ASX:DTR) said it has completed a AU$35 million placement at an issue price of AU$0.31 per share, which increased its total available cash to over AU$58 million, according to a Friday Australian bourse filing.

The company issued 112.9 million new ordinary shares under the placement, equating to 3.1% of the company's share capital.

The company added that coincident induced polarization, conductivity, and radiometric anomalies have indicated deep sulfide targets at its Colosseum Gold-Rare Earth Elements Project in the US, which will be assessed through an imminent diamond drilling campaign.

The company said that it is transitioning to US reporting standards and related regulatory frameworks to broaden its investor base and improve accessibility to US investors.

The company's shares fell 4% in recent Friday trade.

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